As part of its broader ambitions to attract hundreds of billions in new money, Standard Chartered will look to launch its sixth wealth center in Hong Kong.
Standard Chartered will open its sixth cross-border wealth management center in Hong Kong, according to an «SCMP» report citing Mary Huen, CEO of Hong Kong, Greater China and North Asia.
«We have found that high net worth (HNW) and affluent clients respond positively to these cross-border wealth management centers,» she said, adding that Hong Kong had hired 100 relationship managers last year to serve HNW customers. «We have already set up such centers in Taiwan and Shanghai in recent years [and] we are considering similar centers in Greater Bay Area cities such as Shenzhen and Guangzhou.»
The move to add a new wealth center in the city is part of a broader plan announced in December 2024 to invest $1.5 billion in the bank’s affluent business in people, digital and technology, branding, marketing and client centers. The goal is to attract $200 billion of net new money and deliver double-digit compound annual growth rate for income from its wealth solutions over the next five years.
